Australian data due today will plug into poor GDP – here is what is expected

I posted earlier on the data due today:

• Economic calendar in Asia Tuesday, 4 June 2024

But I didn’t have the consensus median estimates for much of the data. Here they are now.

Business Inventories Q1

• expected 0.7% q/q, prior -1.7%

3 Jun 21:30 Gross Company Profits Q1

• expected -0.6%, prior +7.4%

3 Jun 21:30 Current Account Balance SA Q1

• expected AUD5.1bn, prior AUD11.8bn

Net Exports Contribution Q1

• expected -0.6%, prior +0.6%

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Q1 GDP data is due on Wednesday (tomorrow) Sydney time. Its expected at +0.2% q/q. Q4 2023 was also 0.2%. Slow growth in Australia only.

This article was written by Eamonn Sheridan at www.forexlive.com.